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Oct 27, 2012 6:30am PDT
at california over here. 3% of their jobs in the past dozen years lost to china. the candidates say this is largely happening because while america allows its value of the dollar to be set by the free market, and that determines the cost of labor, that china manipulates the cost of its currency. so it can control the cost of labor. because they have a lot of people they need to employ. they'd like to keep labor costs low to attract a lot of business. now, it's difficult to do a one-to-one comparison, because productivity is very different between the u.s. and china. but let's look at it this way as much as we can. if you had a u.s. factory and you wanted to produce something there, by the time you paid a laborer all the benefits and salary, that's going to come out to about $34 an hour, to do the same thing in china is going to be more like $2 an hour. so the chinese government has structured its infrastructure and everything else to support this idea, to bring factories in, to take advantage of that cheap labor, and to put inexpensive products out to compete on the world market. an
Search Results 0 to 1 of about 2 (some duplicates have been removed)